Common use of Performance-Based Right to Payment Clause in Contracts

Performance-Based Right to Payment. The amount of cash compensation that may become payable pursuant to the Award shall be determined based on the achievement of the Performance Goals. On the Determination Date, the Committee in its sole discretion shall determine whether the Performance Goals have been achieved with respect to all or a portion of your Award under this Award Agreement. Except as otherwise provided in your Employment Agreement, the payment of cash compensation with respect to your Award is contingent on the attainment of the Performance Goals. Accordingly, unless otherwise provided in your Employment Agreement, you will not become entitled to payment with respect to the Award subject to this Award Agreement on the Determination Date unless the Committee determines that the Performance Goals with respect to the Determination Date have been attained. Upon such determination by the Committee and subject to the provisions of the Plan and this Award Agreement, you shall have the right to payment of the cash compensation as set forth on Exhibit A. Pursuant to Section 4 and except as may be otherwise provided in your Employment Agreement, in order to be entitled to payment with respect to any Award, you must be employed by ALC or an Affiliate on the Payment Date.

Performance-Based Right to Payment. The amount of cash compensation that may become payable pursuant to the Award shall be determined based on the achievement of the Performance Goals. On the Determination Date, the Committee in its sole discretion shall determine whether the Performance Goals have been achieved you are entitled to payment with respect to all or a portion of your Award under subject to this Award Agreement. Except as otherwise provided in your Employment Agreement, the payment of cash compensation with respect to your Award is contingent on the attainment of the Performance Goals. Accordingly, unless otherwise provided in your Employment Agreement, you will not become entitled to payment with respect to the Award subject to this Award Agreement on the Determination Date unless the Committee determines that the Performance Goals with respect to the Determination Date have been attained. Upon such determination by the Committee and subject to the provisions of the Plan and this Award Agreement, you shall have the right to payment of the cash compensation as set forth on Exhibit A. Pursuant to Section 4 and except as may be otherwise provided in your Employment Agreement, in order to be entitled to payment with respect to any AwardAward on the Determination Date, you must be employed by ALC or an Affiliate on the Payment Determination Date.